In the sports betting scene, Corinthians surprised everyone on January 7th by announcing a historic partnership with VaideBet, an online betting company.
The 36-month contract involved a monumental transfer of R$370 million, in addition to the R$20 million allocated to the termination fine with PixBet.
VaideBet’s million-dollar contract did not go through Compliance
This significant agreement, the largest in the history of Brazilian football, did not go unnoticed, generating varied reactions, including suspicions and questions.
Thus, even the president of Palmeiras and Crefisa, Leila Pereira, expressed caution in relation to the Corinthian partnership, emphasizing the importance of transparency in million-dollar contracts.
His words raised questions about VaideBet‘s credibility and its ability to honor the commitment made to Corinthians.
According to Gazeta Esportiva, the contract did not go through the compliance system implemented at the club in the second half of 2021, fueling distrust.
In this way, the Integrity Program, led by Herói Vicente and Adriano Monteiro Alves, aimed to guarantee transparency in contracts.
However, the news that the VaideBet contract escaped this scrutiny has cast doubt on the effectiveness of the program.
It is worth mentioning that, since its implementation, 411 contracts have been subjected to risk analysis and assessment.
Thus, the current administration, under the leadership of Augusto Melo, ensured that Corinthians’ legal department submitted the VaideBet contract to the compliance process.
“The contract went through the compliance process carried out by Corinthians’ own legal department”, says the official note from Corinthians.
President of Corinthians says he trusts his legal team
VaideBet, a relatively new company on the market, began operations at the end of 2022, with a declared initial capital of R$300 thousand.
Based in Curaçao, but with investments originating in Campina Grande, Paraíba, the company belongs to José André da Rocha Neto, a businessman with more than 30 companies linked to his name.
External distrust is also based on the recent experience of Corinthians, which faced default by Taunsa, an agribusiness company, at the end of 2021.
“To prove to you the suitability and credibility of the company, R$20 million was deposited on January 6th. And another, on the first day of each month, she deposits R$10 million”, said Augusto Melo, at a press conference to formalize the partnership with VaideBet.
“For the following month, the same thing, unlike a Taunsa, who signed a contract, paid nothing, knew nothing and was still rejected by the legal department”, he added.
The president of Corinthians defended the partnership, highlighting the legal approval and financial commitment of VaideBet. He reinforced confidence in Yun Ki Lee, new legal director, and highlighted that the partnership included immediate payments.
Amid this whirlwind of information, Corinthians is preparing to compete in another Campeonato Paulista.
Therefore, it remains to be seen whether the partnership with VaideBet will be a positive watershed or whether it will bring unexpected challenges to the black and white club.
